The money will go toward “life-changing” support and programs, according to a news release issued Wednesday, Aug. 25.
It will support the foundation’s goal of building an endowment for its emergency assistance program. The initiative awards funding to students to help them address financial emergencies. Officials with the college said those are the types of hurdles that could see people dropping out of classes, adding that the program already has been highly successful.
“Oftentimes, emergency assistance as little as $50 can be the difference needed to keep a student enrolled in classes and working toward their goals,” college president Marcia Ballinger said in the release. “These funds are true game-changers for students.”
The award will also go toward the college’s “Fast Track” program. This free offering, launched in 2020, gives people the opportunity to earn a certificate in several high-demand fields in four months or less.
Officials said Medical Mutual’s funding will go both to helping to expand the program and to establishing a $500 scholarship for those who enroll for an associate’s degree at the college after earning a Fast Track credential.
“We know that this additional support for students improve both their chances of persisting in school and their health and well-being — all while helping to close critical skills gaps in high-demand fields like health care, IT and manufacturing,” said Rick Chiricosta, Medical Mutual’s chairman, president and CEO, in the release.
Officials said it’s the largest single corporate gift in the foundation’s history.